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Author Topic: Why 21,000,000 Supply?  (Read 387 times)
Cobalt9317
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December 13, 2017, 09:13:27 AM
 #21

There was actually a reason behind it that had to do with how bytes are divided or something like that, or maybe with the gold supply... I remember reading some theory about it, so it was not fully arbitrary, there was some thought put into it.

It's similar to the 1MB blocksize, it is what it is, but there is also thought put behind the number. Satoshi didn't simply roll a dice and choose these numbers.

It's detailed here - https://bitcoinmagazine.com/articles/satoshis-genius-unexpected-ways-in-which-bitcoin-dodged-some-cryptographic-bullet-1382996984/

Quite stunning how much thought went into every possible aspect. That's why I think it was a group that did. A bunch of heads finds many more potential holes than one.

Truth to be told I don't know about blockchain.

TLDR: I just thought 21 million supply is just a hunch, I think Satoshi knows that he/she/they will/would not live in the year of 21st century that is why it was calculated 21 million instead of 1 million supply or it is just my intuition.
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February 05, 2018, 01:33:41 AM
 #22

I have another theory. I think 21.000.000 is a personal number.
In 2009 there were roughly 21.000.000 Romanians in our country. I believe the real motivation was the liberation of his/their people from the money slavery.
We can all agree that this idea stands against the entire power structure of the monetary system. Which means he/they made a lot of powerful enemies.
This enemies realized this was a real problem for them when Bitcoin got to $1000. But waited patiently until the market got low enough, then they pinned him/them here for the strike: https://en.wikipedia.org/wiki/Colectiv_nightclub_fire
But the result was the opposite of their expectations, the price of Bitcoin spiked to almost double in a few days. Check the CoinMarketCap for around 30 oct 2015.
Now I'm afraid we will have an attack on the entire country after the current big spike, especially since Facebook positioned itself against Bitcoin. Probably Google will too Sad

But this is just a theory Smiley
It worth being investigated though.
paul00
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February 05, 2018, 03:31:52 AM
 #23

I think Satoshi picked up this numbers because he was being safe on the future value of bitcoin. He must be expecting that bitcoin would go this far and what he chose was just in the middle of extreme possibilities. Even though we do not know  if this reason is valid, still the numbers which Satoshi has chosen matches the current values of Bitcoin

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nc50lc
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February 05, 2018, 03:32:25 AM
 #24

I have another theory. I think 21.000.000 is a personal number.
In 2009 there were roughly 21.000.000 Romanians in our country. I believe the real motivation was the liberation of his/their people from the money slavery.
We can all agree that this idea stands against the entire power structure of the monetary system. Which means he/they made a lot of powerful enemies.
This enemies realized this was a real problem for them when Bitcoin got to $1000. But waited patiently until the market got low enough, then they pinned him/them here for the strike: https://en.wikipedia.org/wiki/Colectiv_nightclub_fire
But the result was the opposite of their expectations, the price of Bitcoin spiked to almost double in a few days. Check the CoinMarketCap for around 30 oct 2015.
Now I'm afraid we will have an attack on the entire country after the current big spike, especially since Facebook positioned itself against Bitcoin. Probably Google will too Sad

But this is just a theory Smiley
It worth being investigated though.

Are you from another world or something?
Your theory was based entirely from nonsense and FUD.
You can write a story with your imagination.

This thread already discussed most of the factors for the 21m supply, but not in relation with the 8 decimal per unit. That would be supplemental.

(っ◕‿◕)っ Newbies and Newbies at heart! Remember to Lock your Thread(s) after receiving enough replies/sufficient answers. 
FEELING GENEROUS?: 39EKeFj43inkH6Ctkosh9E7oskx3tvhSXi ∙ Do not buy non-mainstream ASICs at second-batch and onwards, you know the risk!
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February 05, 2018, 06:02:15 AM
 #25

thats a big news thing but I don't know if other people here knows that bitcoin have no limit in value  the value of bitcoin decide to investors and users I think if bitcoin have more people supporting crypto bitcoin will be grow and grow

IonCreanga
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February 05, 2018, 09:00:28 AM
Merited by nc50lc (1)
 #26

I have another theory. I think 21.000.000 is a personal number.
In 2009 there were roughly 21.000.000 Romanians in our country. I believe the real motivation was the liberation of his/their people from the money slavery.
We can all agree that this idea stands against the entire power structure of the monetary system. Which means he/they made a lot of powerful enemies.
This enemies realized this was a real problem for them when Bitcoin got to $1000. But waited patiently until the market got low enough, then they pinned him/them here for the strike: https://en.wikipedia.org/wiki/Colectiv_nightclub_fire
But the result was the opposite of their expectations, the price of Bitcoin spiked to almost double in a few days. Check the CoinMarketCap for around 30 oct 2015.
Now I'm afraid we will have an attack on the entire country after the current big spike, especially since Facebook positioned itself against Bitcoin. Probably Google will too Sad

But this is just a theory Smiley
It worth being investigated though.

Are you from another world or something?
Your theory was based entirely from nonsense and FUD.
You can write a story with your imagination.

This thread already discussed most of the factors for the 21m supply, but not in relation with the 8 decimal per unit. That would be supplemental.

Clearly I am from another world, but Bitcoin is too. Why would you invent something like this if you would be happy with your current monetary system.
And you're right. My theory is based entirely from nonsense and FUD. But that is all I see around me.
Every Romanian I know personally is not talking about Bitcoin entirely because of pure FEAR.
All the banks are closing Bitcoin related accounts.
Facebook says that ICO and Cryptocurrency are Prohibited Financial Product and they are isolating my page only because I had an idea of a Cryptocurrency.
I am seriously afraid for my life at the moment, but I'm sure that will pass Cheesy Our government and parliament are passing totally immoral laws like it's nothing.
And one person that we all know he should be behind bars is coordinating everything, Liviu Dragnea.
In this country there are probably the most stupid people in the world. But nature is balancing this so here are also a lot of smart people.
Clearly, because they are smart, they are leaving this country full of stupid people.
It is so far stretched to say that a few of them realized that the current system is the one that is dumbing us down, and we decided to fight back?
https://www.youtube.com/watch?v=te5kBUKN0iM
Do you believe that in this era we still need to have words censored on TV? I don't. But PULA is a word that we use all the time in our day to day basis, like fuck. You don't see fuck censored, PULA is still censored everywhere here. But there's a deeper meaning about this, PULA can also be acronym for Payment Unit for Labor Absolution and that would interfere with the monetary structure. If you make that a coin and you control it, you can control the world. So that shouldn't be. But if you create a decentralized system, when everybody can create their own coin, that's better. You really need to be a genius to understand exactly how to play this out without getting yourself killed. And you need a much higher purpose than just getting rich.

My book will be called "The PULA conspiracy" Cheesy
You gave me a great idea. I will start writing it.
shikon_shard
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February 05, 2018, 09:26:55 AM
 #27

Maybe he meant it to be the 21st century money xD
shikon_shard
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February 05, 2018, 09:39:24 AM
 #28

If all these coins have to be mined, where are they stored?
And who keeps them and awards them to miners??

Just asking, newbie here  Grin  Cheesy Cheesy Grin
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